3/374 Pennant Hills Road, Pennant Hills NSW 2120
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3 Key Factors That Could Impact Where You Run Your Business

The geographical area of your business can affect operating costs and, ultimately, how much you make. Here are three important factors to consider when establishing a location for your business.


Is the location of your business’s physical space close to your prospective customers? Is it in an area that sees foot traffic, available to your target market/demographic or is otherwise suitable to your needs? The physical location of your business should take into consideration the product that you are hoping to sell and the needs of the area around you. For example, a clothing store that specialises in ski clothing may not necessarily be appropriate for a town in Cairns on the beach, but a swimwear outlet may be more suitable.

Your digital location also needs to be available and accessible for your customers to be able to find you online. Providing business cards to prospective customers and promoting the website in-store can give them options and opportunities to purchase.

Can You Solve The Customer’s Immediate Problem?

What is the problem that your customer is facing that only your business/product can resolve? Your customer is seeking your services because they are trying to solve a problem that you will help them overcome. That is the reason they need to have access to you and your business.

If you do not have any customer problems, it means you have no business to offer them. If you have a product they need but can’t afford, they can always afford other products that your product can complement.

What Are The Business Costs In The Area?

The greater the demand for your product or service, the higher your prices may be.

Three areas will likely increase your costs: gross sales, revenue and income taxes. This will likely affect how your products will be priced, which may affect whether your customers choose to purchase your products.

You may also have to take into account rent, utilities, supply chain costs and more.

If you’re someone who often finds it difficult to make large lump sum payments for goods or services, you may want to consider looking into “Buy Now Pay Later” services.

Buy now pay later essentially means that, rather than paying in a full lump sum payment for a product or services rendered, there may be an option to pay through instalments of a certain amount over a set period to make the sum of the full amount in total. This method should allow you to pay in full for the product or service without overly straining your finances – you pay back what you can, as agreed upon when you begin the buy now pay later service.

Some popular buy now pay later services include Afterpay, Zip Pay, Brightepay, and some credit card networks such as  Mastercard and Visa, can offer buy now pay later arrangements.

Though it can be a convenient, immediate solution, it may be challenging to juggle the necessary repayments with other financial commitments. It’s not always the most appropriate method for people, and you should bear in mind your situation and ability in paying back the amounts. 

Before you sign up, keep in mind: 

  • It becomes easier to overspend with buy now pay later services, so know your limits on what you can and can’t afford.
  • You will be charged fees and costs to use the service, which can add up to a princely sum in and of itself.
  • Keeping track of your payments can be tricky if you’ve signed up for multiple services.
  • It could affect your loan applications for a car or mortgage as lenders consider buy now pay later spending just as much as your credit score.
  • Late repayments can appear on your credit report, which affects your ability to borrow money in the future.
  • Layby can be a cheaper alternative to buy now pay later, with no account-keeping or late fees to consider

If you are someone who could make use of BNPL services, you may wish to:

  • Ensure that when using the BNPL service, you stick to a set limit on what you spend so that you can comfortably pay it back later. 
  • Aim only to have one BNPL account at a time to manage payments through, rather than confuse yourself with multiple payments across different providers.
  • Always budget for bills, loan payments and BNPL payments, and 
  • Rather than use your credit card for payments to your BNPL account, consider linking to your debit account instead.

If you would like assistance in planning your financial future, help in managing your budget or some friendly advice, see us for a chat about what we can do for you.


What our Client Say

John Briggs

Jane Noller has been my accountant for the last 15 plus years. I can testify to Jane’s professionalism and expeditious manner in dealing with the day to day issues that surrounds our business accounting.

John Briggs

Registered Building Certifier

David and Alison Parker

I have been consulting J L Noller and Co. (more specifically Jane) for six years and during this time I have found her to be professional, efficient and easy to discuss all accounting and taxation matters with. Her office team are all polite and friendly also.

David and Alison Parker

Business Owner

Carl Gillmore

I have used Jane & the team for the last 6 years for all of my business & personal accounting needs. They have always been professional, easy to talk to & available when we have needed assistance.

Carl Gillmore

Carl Gillmore Landscape

John Briggs

Jane Noller has been my accountant for the last 15 plus years. I can testify to Jane’s professionalism and expeditious manner in dealing with the day to day issues that surrounds our business accounting.

John Briggs

Registered Building Certifier